You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.035 margin of error at a 98% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0,2. Using this new information, what sample size should you gather in order to obtain a 0,035 margin of error? Round your answer up to the nearestE whole number. households-

You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.035 margin of error at a 98% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0,2. Using this new information, what sample size should you gather in order to obtain a 0,035 margin of error? Round your answer up to the nearestE whole number. households-

Name: You work for a marketing firm that has a large client in the automobi
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Description: You work for a marketing firm that has a large client in the automobile industry. You have beenasked to estimate the proportion of households in Chicago that have two or more vehicles. Youhave been assigned to gather a random sample that could be us

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.7: Probability

Problem 58E: What is meant by the sample space of an experiment?

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